VERO BEACH, Fla., Nov. 10, 2015 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the "Company") (NYSE: ORC) announced today that the Board of Directors declared a monthly cash dividend for the month of November 2015. The dividend of $0.14 per share will be paid November 30, 2015, to holders of record on November 24, 2015, with an ex-dividend date of November 20, 2015.

The Company intends to make regular monthly cash distributions to its stockholders. In order to qualify as a real estate investment trust ("REIT"), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that certain percentages of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.

As of November 10, 2015, the Company had 21,768,190 shares outstanding. At September 30, 2015, the Company had 21,892,773 shares outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of October 30, 2015 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate:

RMBS Valuation Characteristics

RMBS Assets by Agency

Investment Company Act of 1940 (Whole Pool) Test Results

Repurchase Agreement Exposure by Counterparty

RMBS Risk Measures

About Orchid Island Capital, Inc.

Orchid Island Capital, Inc. is a specialty finance company that invests in Agency RMBS that are either traditional pass-through Agency RMBS or structured Agency RMBS. Orchid Island Capital, Inc. has elected to be taxed as a REIT for federal income tax purposes.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company's distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.'s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's Form 10-K for the year ended December 31, 2014.

RMBS Valuation Characteristics

($ in thousands)

Percentage

Weighted

Realized

Current

Fair

Current

of

Average

Oct 2015 CPR

Asset Category

Face

Value(1)

Price

Portfolio

Coupon

(Reported in Nov)

As of October 30, 2015

Adjustable Rate RMBS

$

2,809

$

2,995

106.59

0.15

%

3.62

%

0.23

%

10-1 Hybrid Rate RMBS

52,696

53,882

102.25

2.67

%

2.55

%

9.55

%

Hybrid Adjustable Rate RMBS

52,696

53,882

102.25

2.67

%

2.55

%

9.55

%

15 Year Fixed Rate RMBS

101,120

106,719

105.54

5.30

%

3.28

%

7.47

%

20 Year Fixed Rate RMBS

401,856

432,014

107.50

21.44

%

4.00

%

3.30

%

30 Year Fixed Rate RMBS

1,207,634

1,311,534

108.60

65.07

%

4.35

%

7.94

%

Total Fixed Rate RMBS

1,710,610

1,850,267

108.16

91.81

%

4.20

%

6.84

%

Total Pass-through RMBS

1,766,115

1,907,144

107.99

94.63

%

4.16

%

6.91

%

Interest-Only Securities

525,560

63,196

12.02

3.14

%

3.59

%

14.02

%

Inverse Interest-Only Securities

222,499

44,986

20.22

2.23

%

6.16

%

12.88

%

Structured RMBS

748,059

108,182

14.46

5.37

%

4.66

%

13.72

%

Total Mortgage Assets

$

2,514,174

$

2,015,326

100.00

%

4.18

%

8.89

%

RMBS Assets by Agency

Investment Company Act of 1940 (Whole Pool) Test

($ in thousands)

($ in thousands)

Percentage

Percentage

Fair

of

Fair

of

Asset Category

Value(1)

Portfolio

Asset Category

Value(1)

Portfolio

As of October 30, 2015

As of October 30, 2015

Fannie Mae

$

1,634,651

81.1

%

Whole Pool Assets

$

1,542,820

76.6

%

Freddie Mac

363,764

18.1

%

Non Whole Pool Assets

472,506

23.4

%

Ginnie Mae

16,911

0.8

%

Total Mortgage Assets

$

2,015,326

100.0

%

Total Mortgage Assets

$

2,015,326

100.0

%

(1) Amounts in the tables above include assets with a fair value of approximately $28.4 million purchased in October 2015 which settle in November 2015.

Repurchase Agreement Exposure By Counterparty

($ in thousands)

Weighted

% of

Average

Total

Total

Maturity

Longest

As of October 30, 2015

Borrowings(1)

Debt

in Days

Maturity

Goldman, Sachs & Co

$

156,955

8.7

%

26

11/25/2015

Wells Fargo Bank, N.A.

135,437

7.4

%

13

11/13/2015

Cantor Fitzgerald & Co

131,505

7.2

%

15

11/18/2015

Mizuho Securities USA, Inc

127,625

7.0

%

14

11/23/2015

ICBC Financial Services LLC

117,579

6.4

%

14

11/19/2015

Mitsubishi UFJ Securities (USA), Inc

112,740

6.2

%

19

11/30/2015

Citigroup Global Markets Inc

103,211

5.7

%

16

1/19/2016

KGS-Alpha Capital Markets, L.P

101,759

5.6

%

12

11/19/2015

RBC Capital Markets, LLC

100,559

5.5

%

19

11/23/2015

Nomura Securities International, Inc.

97,540

5.3

%

19

11/23/2015

ED&F Man Capital Markets Inc

92,619

5.1

%

18

11/25/2015

J.P. Morgan Securities LLC

85,803

4.7

%

15

11/30/2015

Merrill Lynch, Pierce, Fenner & Smith Inc

82,326

4.5

%

17

11/16/2015

South Street Securities, LLC

80,845

4.4

%

17

11/20/2015

Daiwa Securities America Inc.

75,388

4.1

%

11

11/12/2015

Natixis, New York Branch

72,830

4.0

%

12

12/1/2015

Morgan Stanley & Co

49,292

2.7

%

10

11/9/2015

CRT Capital Group, LLC

45,190

2.5

%

20

11/23/2015

Guggenheim Securities, LLC

40,057

2.2

%

26

11/30/2015

Barclays Capital Inc

10,136

0.6

%

14

11/13/2015

Suntrust Robinson Humphrey, Inc

4,366

0.2

%

21

11/20/2015

Total Borrowings

$

1,823,762

100.0

%

17

1/19/2016

(1) In October 2015, the Company purchased assets with a fair value of approximately $28.4 million which settle in November 2015 that are expected to be funded by repurchase agreements. These anticipated borrowings are not included in the table above.